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Z�15�535� �EE� �F T`�IUST' ��nt[t�ued� �age 3 or assessments a�d shall autharize the appropriate governmenta� of�i�ial �o deii�er ta Lender at any time a written statement o€the�axes and assessments against�he Praperty. Nvtice of Constructivn. Trust�r shall notify Lender at least fif�een �1�}days befvre any work is commenced, any servi�es are�urnished,or any ma�erials are supplied ta fhe Praper-ty, if any rnechanic's lien, rnaterialmen's lien, or o�her fien �ould be asserted ❑n accaunt af the work, S�NICLS, or materia�s. Trustor wili upon request o�Lender . furnish �fl Lender ad�ance assuran�es satisfactory to Lender that Trus�or can and wi[I pay �he cost of SUCh imprvvements. PRDPERTY DAMAGE [NSURANGE. The following provisians rela�ing#❑ insuring the Property are a part of this ❑eed vf Trusf. N[ain�enance vf lnsurance. Trustor shall procure and ma�ntain poli�ies a�fire insurance with s�andard extended c��erage endorsernents on a repla�ement bas�s far the fu�� insurabfe�alue cavering all Impra�emen�s on the Rea� Prnperty in an amvunt sufFicient t� a�a�d application vf any coinsuranCe clause, and with a standard martgagee clause in fa�or of Lender. Trus�or shall alsa procure and maintain comprehensi�e general iiability�nsurance in such caverage amounts as Lender may request with Trus�ee and Lend�r being named as add��ianal insur�ds in such �iability insurance �7�I1CI�5. Addit�onal�y, Trustor shall rnaintain su�h �ther insurance, includ�ng bu# nvt limited to ha�ard, busine�s in�er�'uption, and boiler insurance, as L�nder may reasonab�y require. Pvlicies shall be wri�ten �n farrn, amounfs, ea�erages and basis reasanably ac�eptable t❑ Lender and issued b� a campany �r �ompanies reasonably accep�ab�e to Len�er. Trustvr, upon request ❑f Lender, will deli�er ta Lender from time �o time the palicies ar certificates af insurance in form sati�factory t❑ Lender, including stipula�ions tha�ca�erag�s wifl not be �anceiled or dim�nished wi�hvut at least thirty �3a}days prinr wri�ten notice to Lender. Ea�h insurance palicy ais� shall include an endorsement pro�iding thafi co��rage in fa�ar vf Lender will nvt be impaired in any way by any act, amissian ar default of Trustor vr any a�her person. 5hau�d�he Rea! Property be�o�a�ed in an area designa�ed by the Adminis�rator vf#he Federal Emergency Management Agen�y as a special�load hazard area,Trustar agrees fo �btain and maintain Federal F�aod lnsurance, if a�ailable, f�r�he ful! unpaid principal balance�f the laan and any prio� liens on the proper�y securing the Ioan, up tv the rnax�mum pai�cy limits set under the hlationaf Flo�d Insurance Program,❑r as vtherwise requir�d by Lender,and ta rna�ntain su�h insurance fvr�he terrn vf the laan. Applica�ian ❑f Proceeds. Trus#or sha�1 promp�ly notify Lender af any loss or damage ta the Prvperty. Lender may rnake proaf of loss i# Trusfor fails tv d❑ sv wzth in �ifteen �'i�} days vf th� �asualty. �111hether or nv� Lender's security is impaired, Lender may, at Lender's election, recei�e and re�ain the proceeds�f any insurance and apply the proceeds t�the reduction of�he �ndebtedness, payment af any lien a�fe�ting�he Praperfy, or the restoration and repair o�the Praperty. If Lender elec�s ta apply the proceeds to restaration and repair, Trusta�-shall repair or replace the damaged or destroyed frnpro�em�n�s in a manner sa�isfactory to Lender. Lender shalI, upQn sa�isfactory praof of such expenditure, pay or reimburse Trustor fr�m the praceeds far �he reasonabie cas� of repair ❑r restoratian if Trustor is not �n defa�ilt unde��his Deed ❑f Trust_ Any proceeds virhich ha�e not been disk�urse�i within 18[] days after the�r receip� and which Lender has not c�mmit�ed ta the repair❑r�es��ration afi the P�aperky shall b�us�d f�rs�to pay any amount owing to Lender und�r this❑eed of Trus�,then �❑ pay accru�d int�rest, and the remainder, if any, shall he applied to the principal balance of the lndeb�e�ness. I� Lender halds any proGeeds after payrnent in full af the Indebtedness, su�h prviceeds shafl be paid ta Trustar as Trust�r`s interests may appear. Campliance with Existing lndeb#edness. During the pe��vd �n which any Existing lndebtedness described below is in effect, �ornpliance with '�he insuranc� pravisions �an�a�ned in the instrument e�idencing such Exis��ng lndeb�edness shall constitute campliance with the insurance pro�isions under this Deed ❑f Trust, �a fhe ex�ent �ompliance with the terrns of this Deed of Trust would canstitu�e a dup[ication ❑f insu�ance requirement. !f any praceeds�rom the insurance be�ome payable on (oss,the pra��sions in this Deed of Trust far di�ision❑�pra�eeds shal[app�y only ta fha#por�ian of�he proceeds not payable to the holder af�he Existing lndebtedness. Trustor's Repor�an lnsurance. Upon request af Lend�r, howe�er not mor�fhan ance a year,Trustor shall furnish to Lender a repa�t Qn each existing poli�y vf insurance showing: �1} the name af the insurer; ��} the risks insured; �3} the arnaunt of the p�licy; (4} the praperty insured, th� then Gurrent replacement value af su�h p�aperty,and the manner❑f determining �hat�alue;and �5} the expirati�n date of the pa�icy. Trustor shall, upan request of Lender, ha�e an independent appraise�-sa�is�ac#ory�o Lender deterrnine the cash�alue repla�ernent�ast o�the Praperty. LENDER'S E�PEN[31TURES, lf any ac�ian�r proceeding is�ammenGed that would rnaterially affe�t Lender's interest in the Property ar if Trustor fai[s ta�omply with any pro�ision of this Qeed of Trust or any ReIated Documents, including bu�not limi�ed t�Trustor's�a�lure fa�amp�y with any abliga�ion�a main#ain Existing lndebtedness in g�od standing as r-equired belaw,or�o discharge❑r pay when due any amounts Trustor is required fo discharge or pay under�his Deed o� Trust or any Rela�ed Documents, Lender an Trustor's behaff may�but shall no� be obligated to} �ake any ac�ion that Lend�r d�ems app�apriate, in�luding but not limited to d�scharging ❑r paying all �axes, liens, security interes�s, encumbrances and other ciaims, at any time Ie�ied or placed ❑n the Praperty and paying all C�5t5 far insuring, main�aining and preserving the Property. All su�h expendi�u�-es incurred or paid by Lender for such purposes wiil then bear interest a#the ra�e charged under�he Na�e from�he date incurred or paid by Lender�o the da�e vf repayment by Trustar. AII such expenses will become a pa�t of�he lndehtedness and, at Lende�'s aption, will �A} be payable on demand; (B} be adder�t� the halance af the �late and be apportioned among and be payable with any instal�ment paymen�s tv became due during e�ther (1} the term of any applicab�e insurance palicy; ar ��) �he remaining term af the Nafie;or �C} be treated as a ballaon payrnen�which wil� be due and payable a�tne Nate's ma�urity. The Deed of Trust alsa will secure payment of these amounts. Such righ� shall be in addition ta all ather rights and remedies to whi�h Lender may be entitied upon Defauit. WARRANTY; DEFENSE�F TITLE. The fallowing provisi�ns relating to awnership af the Property are a par�o�this Deed of Trust: Ti��e. Trustvr wa�ran#s tha�: �a}Trustor halds gaad and marke�ab�e�itle ❑f�ecord tv.the Praper�y in fee simple, free and clear af all li�ns and encumbrances n�her than �hv�e set farth in �he Real Praperty description ar in the Exis�ing �ndebtedness section below or in any titi� insurance policy,title repa�t,�r fina��itle opin�on issued in fa�or ❑f, and ac�epted by, Lend�r�n �anne�tion with this❑eed vf Trust, and �b}Trusto�has the ful� right, power, and au�ha�-i�y fa exe�ute and deli�er th is Deed of Trust to Lender. ❑efense of Titte. Sub�ect to the ex�ep#ion in the paragraph abo�e, Trustor warrants and will fare��r defend the title ta the Properiy against the fav+r�ul ��a�rns❑f all persons. In the e�ent any action o� prviceed�ng ts carnmenced tha�questians Trustor's title ar the interest of Trustee or Lend�r under�his ❑e�d a�Trust,Trus�or shall defend the ac�ivn at Trustor`s expense. Trustor may be the naminal party�n such praceeding, but Lender shall be entitled �o parti�ipate in the proceeding and to he represen�ed �n �he proceeding by counsel of Lender's vwn choice, and Trustar will de[iver,ar cause to be deli�ered,tv Lender such instrumen#s as Lender may requesf fram tirne�a time ta permit such participatian. Cnrnplian�e Vtili#h Laws. Trus�vr warran�s tha� �he Property and Trustvr's use of the Prapert� complies wi�h al[ existing applicable laws, �rdinan�es,and regulatians af go�ernrnen�al authori�ies. 5urvi�al of Representations and 11VarrantE�s. Aii representafions, warranties, and agreements made by Trustar in this�eed of Trus�shall surv��e the executian and delivery of this Deed of T�ust,shall be continuing in na�ure, and shall remain in full force and effect until such time as Bvrrawer's Indebtedness shal!be paid�n fuli.